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UKOil: high volatility
2022-12-16
974
Fundamental analysis:
Brent oil remained volatile around 81.441, as the Federal Reserve issued hawkish guidance on monetary policy, sparking new concerns about economic growth, boosting the dollar and pushing down commodity prices, putting pressure on oil prices.
Cloth oil UKOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: High short-term fluctuations within a narrow range, the market’s short-seller sentiment has signs of waiting for an opportunity to enter the market, the short-seller momentum begins to move down slowly, the MACD indicator is in the bullish area, and the RSI indicator is hovering near the 50 balance line;
Long-short turning point: 81.749
Suppression: 82.710, 83.751
Support: 80.548, 79.694
Trading strategy: bearish below 81.749, target 80.548, 79.694
Alternative strategy: call above 81.749, target 82.710, 83.751
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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